AMTD, Owner of The Art Newspaper, Launches Litigation against INNA BAZHENOVA and GLEB IBRAGIMOV for Intimidation, Malicious Falsehood, Breach of Confidence and Consequential Loss and Damage
Rhea-AI Summary
AMTD Group (NYSE:AMTD; NYSE:HKD) announced it has launched litigation on April 4, 2026 against Inna Bazhenova and Gleb Ibragimov for intimidation, malicious falsehood, breach of confidence and consequential loss.
AMTD says it purchased The Art Newspaper in 2023, fully paid the agreed consideration including locked-up shares, and notes the Hong Kong High Court dismissed preservation and whole-action claims on 20 June 2025 and 21 November 2025 with costs ordered against the claimants. AMTD reported the matter to law enforcement and retained Gibson Dunn to pursue remedies.
Positive
- Acquisition completed of The Art Newspaper in 2023 with full consideration paid
- Hong Kong High Court dismissed preservation order application on 20 June 2025
- Entire legal action dismissed on 21 November 2025 with costs ordered against claimants
Negative
- AMTD alleges it has suffered loss and damage from defendants' conduct
- AMTD has commenced fresh litigation (April 4, 2026) against two named individuals
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In the Jan 15 session, AMTD declined 1.96%, reflecting a mild negative market reaction.
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In 2023, AMTD Group acquired The Art Newspaper from Ms Inna Bazhenova, who personally published an article about the successful completion of the deal at the time: https://www.theartnewspaper.com/2023/10/25/statement-by-inna-bazhenova-publisher-the-art-newspaper. The consideration for the transaction was fully paid, and the deal was duly closed and completed.
The consideration comprised cash and certain shares in listed companies of AMTD Group, some of which were subject to a lock-up period ("Lock Up Shares") under the Sales and Purchase agreement (the "Agreement").
At all material times, the Lock Up Shares have been registered in the names of Ms Bazhenova and her business partner and advisor, Mr Gleb Ibragimov, who was allocated a part of the shares by Ms Bazhenova.
Despite this, Ms Bazhenova and Mr Ibragimov commenced legal action in
On 20 June 2025, the Hong Kong High Court fully dismissed their application for an asset preservation order, and imposed a costs order of
Subsequently, in January 2026, Mr Ibragimov—in his own capacity and/or for and on behalf of Ms Bazhenova—issued messages to AMTD Group, indicating readiness to breach the Agreement and/or their duty of confidence by disclosing matters relating to the Agreement to third parties, including journalists, unless AMTD Group agrees to a resolve matters concerning the Lock Up Shares in favour of Ms Bazhenova.
The above conducts and actions have been reported to law enforcement authorities by AMTD and The Art Newspaper. As a result of the above, AMTD Group has suffered loss and damage.
Therefore, as advised by Gibson Dunn, AMTD Group has promptly commenced legal action against Ms Bazhenova and Mr Ibragimov, and is committed to enforcing its legal rights against both individuals to the fullest extent possible.
Furthermore, AMTD Group wishes to reiterate our persistence and dedication towards ensuring that justice and fairness prevail against any and all perpetrators of malicious and intimidating acts against AMTD Group and its related companies and individuals, and towards procuring all possible remedies and penalties against such malicious actors.
About AMTD Group
AMTD Group is a conglomerate with a core business portfolio spanning across media and entertainment, education and training, and premium assets and hospitality sectors.
About AMTD IDEA Group
AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients' diverse and inter-connected business needs and digital requirements across all phases of their life cycles. AMTD IDEA Group is uniquely positioned as an active super connector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as "Twitter") at @AMTDGroup.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in
About The Generation Essentials Group
The Generation Essentials Group (NYSE: TGE; LSE: TGE), jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), is headquartered in
Safe Harbor Statement
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For more information, please contact:
For AMTD IDEA Group:
IR Office
AMTD IDEA Group
EMAIL: ir@amtdinc.com
For AMTD Digital Inc.:
IR Office
AMTD Digital Inc.
EMAIL: ir@amtdigital.net
For The Generation Essentials Group:
IR Office
The Generation Essentials Group
EMAIL: ir@tge.media
View original content:SOURCE AMTD Digital Inc.; AMTD IDEA Group; The Generation Essentials Group